Rob Sharps: Yes. And just to close the loop on this, for context, the role eliminations were roundly 2% of our global workforce and impacted multiple functions. The impact across investment divisions was minimal. You talk about dozens of people over a base of between 400 and 500 portfolio managers, associate portfolio managers, investment analysts across our — all of our investment divisions. I think it’s also important to understand that we’ve invested very steadily over time across our base of investment professionals, and we remain very confident in the strength of our global investment platform and our ability to deliver for clients. If you look back just to the — since the end of 2013 to June 30 this year, our total number of investors has grown by over 25%. So, if there’s any sense or concern that we’re not investing in our platform or taking care of our investment talent, I think it’s misplaced.
Operator: Thank you. Our last question comes from the line of Michael Cyprys from Morgan Stanley. Your line will be opened momentarily. Your line is now open.
Michael Cyprys: Great. Thank you. Thanks for squeezing me in here. More of a big picture question for you. AI has been getting a lot of attention and focus across the world today. Just curious how you’re thinking about the potential and opportunity from AI with respect to your business. Do you see this as more of a revenue or an expense play? What sort of impact could this have on the competitive landscape for the asset management industry? Maybe you could talk a little bit about how you’re experimenting with this today, or how you may experiment with that in the future?
Jen Dardis: Sure. Thanks for the question. I think it’s important here that I know a lot of people are talking about generative AI and the capabilities that have been rapidly evolving over the past several quarters versus machine learning AI. I’d say we’ve been investing behind that in certain parts of our business for some time now and our investment data insight team is an example, to make sure that we’re using the benefits of machine learning in all of our processes. Specifically with regard to generative AI, we’re looking at it across two fronts. One is from a risk perspective, just making sure that we have appropriate safeguards in place to protect data. And that’s been one of the important things that we’ve been focused on in the early days.
And then, the second piece of that, we’ve been establishing pilots across the business just to evaluate what the capabilities are to make sure that we can implement generative AI in ways that will improve our ability to generate insights for clients, the ability to reach and impact new clients and also to drive efficiency across the business. So, I’d say we’re looking at pilots across our investment organization, across our distribution channels and within our technology organization specifically to look at how we can use that to drive efficiencies. So, I think the opportunities are potentially significant over time, but it’s early days, and we want to do it in a way that is durable.
Rob Sharps: All right. I think that was the last question. So, I’ll just close by thanking everyone for joining us and for their interest and good questions. As we noted, we’re encouraged by investment performance. We continue to be deeply focused on it. And I think we believe that while there are some lingering issues that will impact flows, we have a path to improvement as we work our way through 2024. We believe deeply in our corporate strategic initiatives, and I’m really encouraged by the dedication and commitment of our associates and their focus on delivering for our clients. So, thank you.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
